Dealer took my car

by vikki
(freeport, new york)

I purchased a used vehicle from a dealer 2yrs. ago. I had lots of problems with.I went to the same dealership to trade the vehicle at the same dealership;coming out with a much better car I was so happy....until!!!! I didn't have the full deposit for the new car at the time,so the dealer fronted me the money but I signed a promissory note saying I would pay him by a certain time. I was making the payments but fell upon hardship so the dealer came and took my car!!! Not the bank for a late payment but the dealer.Is legal?

Reply from DebtCollectionAnswers.com

Vikki - We can't comment on whether the dealer acted properly here. It will depend on the contract you signed with the dealer when you bought the car. But the dealer did make you a loan, and you defaulted. So if the vehicle was pledged as collateral, then it's likely that the dealer had the right to repossess it.

Click here to post comments

Return to Debt Collection Questions.

Learn how debt collection laws can help you!
This website does not provide legal advice.
All information is for educational purposes only.
Copyright 2007 - 2016 by Mary Reed and Gerri Detweiler.
All rights reserved.